Currency valuations are often abstract until they arrive at the lunch table. A strategist at Bank of New York Mellon has constructed a new measure of the yen's weakness — the Katsu Curry Index — by comparing the price of a beloved Japanese staple across global markets, and the result is a portrait of a currency trading at nearly two and a half times weaker than its purchasing power suggests it should be. Where economists see exchange rates, ordinary Japanese households see rising prices for meals they have eaten their whole lives, a quiet erosion of daily life that no intervention has yet mana
Katsu Curry Index reveals yen weakness Big Mac misses
Japanese households face rising costs for meals and consumer goods due to yen weakness, affecting purchasing power and affordability of daily necessities.